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Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:29 EDTNKE, SKX, DECK, UADeckers Outdoor climbs higher after Q1 results, increased FY outlook
Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX).
News For DECK;NKE;UA;SKX From The Last 14 Days
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December 18, 2014
07:04 EDTNKENike December volatility increases into Q2 and outlook
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December 17, 2014
10:23 EDTDECKDeckers Outdoor UGG sales likely to lead to Q3 beat, says Sterne Agee
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December 16, 2014
12:52 EDTSKXSkechers nears session lows, levels to watch
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12:40 EDTSKXSkechers decline on December sales concerns unwarranted, analyst says
Shares of footwear maker Skechers (SKX) are falling, but research firm Sterne Agee suggested that the decline is based on inaccurate information. WHAT'S NEW: The volatility in Skechers' stock today was likely due to commentary suggesting that the company's December sales have been disappointing, Sterne Agee analyst Sam Poser wrote in a note to investors today. Most of Skechers' customers say that sales of the company's footwear continue to rise by at least 10% annually, Poser reported after speaking with a number of customers. Moreover, large retailers expect sales of Skechers' products to rise by at least 10% next year, the analyst stated. Skechers' momentum is continuing, according to Poser, who identified the stock as a top pick and kept a $70 price target and Buy rating on the shares. PRICE ACTION: In early afternoon trading, Skechers fell 4.5% to $54.85.
10:51 EDTSKXSkechers weakness based on inaccurate information, says Sterne Agee
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09:59 EDTUA, NKEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
December 15, 2014
16:18 EDTUAUnder Armour initiated with an Outperform at Cowen
Target $85.
16:17 EDTNKENike initiated with a Market Perform at Cowen
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15:27 EDTNKE, UAKering explored sale of Puma athletic brand, Bloomberg reports
Kering SA (PPRUY), which owns Gucci, Puma, and other brands, contacted potential buyers earlier this year to gauge interest in a potential a sale of the sportswear company, though the talks haven't lead to any takeover proposals yet, according to Bloomberg, citing people familiar with the matter. Other companies in the sportswear space include Nike (NKE), Under Armour (UA), lululemon (LULU) and Adidas (ADDYY). Reference Link
10:00 EDTNKEOn The Fly: Analyst Initiation Summary
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09:24 EDTNKENike initiated with a Buy at Buckingham
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09:24 EDTUAUnder Armour initiated with a Neutral at Buckingham
Target $70.
07:42 EDTNKENike price target raised to $110 from $96 at UBS
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December 12, 2014
09:01 EDTNKENike December volatility increases into Q2 and outlook
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December 11, 2014
06:33 EDTNKENike CIO Anthony Watson leaves company after 10 months, Business Insider reports
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December 10, 2014
09:15 EDTNKENike price target raised to $105 from $100 at Credit Suisse
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07:25 EDTNKENike sues employees who left for Adidas for stealing trade secrets, ESPN reports
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December 9, 2014
17:03 EDTNKENike appoints Tom Peddie as VP and GM of the Emerging Markets
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December 8, 2014
10:00 EDTNKEOn The Fly: Analyst Downgrade Summary
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06:38 EDTNKENike downgraded to Market Perform from Outperform at Telsey Advisory
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